BD makes $485m payment to ACUFE Report

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Bangladesh made a routine payment of $485 million to the Asian Clearing Union (ACU) Thursday against imports during November-December last year, central bank officials said.
The payment pushed the foreign exchange reserve down to $10.04 billion on the day from $10.32 billion of the previous day, they also said.
"We've remitted the fund to the ACU headquarters in Tehran in line with the existing provisions of the eight-member union," a senior official of the Bangladesh Bank (BB) told the FE Thursday.
Under the existing provisions, outstanding import bills and their interest are settled at the end of every two months among the member countries.
During September-October period of 2009, payments to the ACU against imports stood at $487 million, indicating that imports fell slightly during November-December period in terms of value, the BB official added.